Goldwind Sets RMB180.72 Million Cap for 2027 Product Sales Framework with Xinjiang Wind Power

Bulletin Express10-23

Goldwind Science & Technology Co., Ltd. (Goldwind) has signed a 2027 Product Sales Framework Agreement with its 11.78 % shareholder Xinjiang Wind Power Co., Ltd. The one-year agreement, effective from 1 January to 31 December 2027, governs sales of wind turbine generators (WTGs), components and energy-storage equipment to Xinjiang Wind Power and its associates.

Under the deal, the annual transaction cap is set at RMB 180.72 million (USD 24.66 million), driven primarily by: • Approximately 100 MW of expected WTG tenders, with an estimated sales value of RMB 163.72 million. • Around 60 MW of energy-storage equipment for wind-storage retrofit projects, worth RMB 12.00 million. • Spare-parts sales projected at RMB 5.00 million.

Pricing will follow a hierarchical approach: first via state-mandated tender procedures for WTGs and, where tenders are not required, by reference to prevailing market prices for comparable transactions with independent third parties. Goldwind’s sales centre—together with finance, audit and legal departments—will oversee contract terms to ensure parity with market conditions.

Historical sales to Xinjiang Wind Power and its associates were RMB 10.13 million in 2024, RMB 129.81 million in 2025 and RMB 0.93 million for the nine months to 30 September 2026. The lower 2026 figure reflected project tender delays, though Goldwind expects demand to pick up amid China’s “dual-carbon” policy and Xinjiang’s expanding renewable-energy capacity.

Because the applicable percentage ratios for the 2027 cap exceed 0.1 % but remain below 5 %, the transactions are subject only to announcement and annual review requirements under Hong Kong Listing Rules and are exempt from independent shareholders’ approval. Non-executive director Gao Jianjun, also chairman of Xinjiang Wind Power, abstained from the board vote approving the cap.

Goldwind has implemented enhanced internal controls for connected transactions, including monthly monitoring of utilisation against annual caps, early-warning mechanisms at 70 % threshold, and regular audits by its supervisory department.

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